Peter Chapman writes, “Judge Sweeney granted the Jones Day client’s request to amend the protective order in Fairholme v. U.S.”

A new lawsuit has been filed, Cyrus vs. U.S.

Peter Chapman writes, “CRS Master Fund, L.P., Cyrus Opportunities Master Fund II, Ltd., Cyrus Select Opportunities Master Fund, Ltd., and Crescent 1, L.P., owning more than $230 million of junior preferred stock at the time the Net Worth Sweep was imposed, filed a lawsuit in the U.S. Court of Claims. “At the time of purchase, Cyrus had no reasonable ground to expect that, while the Companies were in conservatorship, the United States instead would expropriate its investment and force shareholders into years of litigation to recoup their investments,” Cyrus tells Judge Sweeney in its complaint modeled on Owl Creek’s. Cyrus is represented by a team of lawyers led by Bruce S. Bennett at Jones Day.” Click here to view the court filing.

Peter Chapman writes, “Owl Creek, Appaloosa, Akanthos, CSS, and Mason Capital want Judge Sweeney to enter a Third Amended Protective Order that will include them in the definition of “Parties” to ensure that Protected Information is treated consistently among all of related cases through the Read More